Regeneron Pharmaceuticals (NASDAQ:REGN) Downgraded to Neutral Rating by Citigroup

Regeneron Pharmaceuticals (NASDAQ:REGN) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Monday. They presently have a $700.00 price objective on the biopharmaceutical company’s stock. Citigroup’s target price would suggest a potential upside of 0.25% from the stock’s current price.

A number of other brokerages also recently commented on REGN. Wells Fargo & Company dropped their target price on shares of Regeneron Pharmaceuticals from $825.00 to $800.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Truist Financial lowered their price target on Regeneron Pharmaceuticals from $801.00 to $796.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Guggenheim increased their price objective on Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Zacks Research lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Barclays lowered their target price on Regeneron Pharmaceuticals from $923.00 to $917.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $818.52.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $698.25 on Monday. Regeneron Pharmaceuticals has a twelve month low of $476.49 and a twelve month high of $821.11. The firm has a market cap of $73.82 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.55 and a beta of 0.30. The business’s fifty day simple moving average is $744.69 and its two-hundred day simple moving average is $746.09. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $8.22 earnings per share. Analysts predict that Regeneron Pharmaceuticals will post 37.1 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total value of $70,524.00. Following the transaction, the director directly owned 17,503 shares in the company, valued at approximately $12,343,815.72. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $781.33, for a total value of $1,279,818.54. Following the completion of the transaction, the director directly owned 1,703 shares of the company’s stock, valued at approximately $1,330,604.99. The trade was a 49.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.97% of the company’s stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC raised its holdings in Regeneron Pharmaceuticals by 48.1% in the first quarter. Glen Eagle Advisors LLC now owns 114 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 37 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Regeneron Pharmaceuticals by 24.8% in the 1st quarter. Quantinno Capital Management LP now owns 48,251 shares of the biopharmaceutical company’s stock valued at $37,281,000 after buying an additional 9,590 shares in the last quarter. SummitTX Capital L.P. purchased a new position in shares of Regeneron Pharmaceuticals in the 1st quarter worth approximately $1,324,000. Lazard Asset Management LLC grew its position in shares of Regeneron Pharmaceuticals by 56.9% in the 1st quarter. Lazard Asset Management LLC now owns 17,004 shares of the biopharmaceutical company’s stock worth $13,138,000 after buying an additional 6,166 shares during the last quarter. Finally, Family Manage LLC raised its stake in shares of Regeneron Pharmaceuticals by 305.8% during the 1st quarter. Family Manage LLC now owns 3,794 shares of the biopharmaceutical company’s stock worth $2,931,000 after acquiring an additional 2,859 shares in the last quarter. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals News Roundup

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Positive Sentiment: Regeneron announced a new collaboration with Parabilis Medicines to develop Antibody-Helicon™ Conjugates, potentially expanding its pipeline into hard-to-drug targets and creating long-term upside. Regeneron Announces Strategic Collaboration with Parabilis Medicines to Advance Novel Antibody-Helicon™ Conjugates Across Multiple Therapeutic Areas
• Neutral Sentiment: The Parabilis agreement includes a $50 million upfront payment, a $75 million equity commitment, and future milestones/royalties, which is meaningful but still dependent on early-stage scientific success. Parabilis Medicines Announces Strategic Collaboration with Regeneron Pharmaceuticals to Advance Novel Antibody-Helicon™ Conjugates Across Multiple Therapeutic Areas
• Negative Sentiment: Regeneron’s phase 3 melanoma study of fianlimab failed to meet its main goal, a setback that weakens confidence in the company’s near-term oncology growth story. Regeneron drops after skin cancer treatment misses late-stage trial goal

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.